Caricoin and Bank of Jamaica Team Up For Nation’s First Licensed Bitcoin Exchange

Localized Bitcoin wallets can make an impact in a specific region. Caricoin, the Bitcoin wallet solution for Caribbean users, is planning to launch the first-ever licensed Bitcoin exchange in Jamaica. By collaborating with the Bank of Jamaica, the company wants to gain support from the financial sector and regulators to achieve this goal.

Bitcoin wallet company Caricoin has been making a name for itself in the Caribbean so far. By offering locals a convenient way to send, receive, and store Bitcoin, Caricoin has quickly gained traction. But the company wants to expand its presence and is targeting Jamaica to do so.

Caricoin Has Its Sights Set On A Jamaican Expansion

Now that Caricoin is in talks with the Bank of Jamaica; exciting things are on the horizon. Launching the country’s first-ever licensed Bitcoin exchange is a major milestone. For now, it appears that any approval would come within the regulatory frame of mobile money. The reason for choosing Jamaica is not random either as several of Caricoin’s investors are located there.

This seems to indicate there is a dire need in Jamaica to offer alternative forms of money. Similarly to other developing regions,